The renowned physicist said the Government won't be able to make up the funding shortfall

He also warned the UK would become "culturally isolated and insular" if Brexit limited the scope for foreign exchanges.

“[Membership] promotes the mobility of people. Students can come here from EU countries to study, and our students can go to other EU universities," he told ITV's Good Morning Britain.

"More importantly, at the level of research, the exchange of people enables skills to transfer more quickly, and brings new people with different ideas, derived from their different backgrounds. Without this exchange, we would become more culturally isolated and insular, and ultimately more remote from where progress is being made.

"The other reason is financial. The European Research Council has given large grants to UK institutions, either to foster research, or to promote exchanges.

"These grants are in addition to those given by the traditional UK research councils, which seem to be becoming progressively starved of resources, by a government intent on short-term cuts, without attention to the longer term consequences."

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He went on: "Gone are the days we could stand on our own, against the world. We need to be part of a larger group of nations, both for our security, and our trade.

"The possibility of our leaving the EU has already led to a sharp fall in the pound, because the markets judge that it will damage our economy."

Former Archbishop of Cantebury Rowan Williams is one of the 200 signatories

In a separate development 200 Cambridge University professors, dames, knights and Nobel prize winners have express their “grave concern” at the impact on British Universities in the event of a Brexit in a letter to the Telegraph.

They claim the shortfall in funding from leaving the EU could not be made up by the UK government.

The boffins also suggest Britain’s border security and economy are better served inside the EU because most “issues of our time” take “no account of national borders”.

The signatories, who include former Archbishop of Canterbury Lord Rowan Williams, write: “As senior members of Cambridge University, writing in our personal capacities, we wish to express our grave concern for the future of our universities and country if Britain votes to leave the EU.”

They go on: “The major issues of our time – in security, energy, environmental sustainability, health and the globalised economy – take no account of national borders.

“Our future will depend on our ability to collaborate and share beyond our own boundaries.

"With rising academic centres in American and Asia, we will only maintain our foremost position in research and innovation if we combine our research resources within a reformed EU.

"Our future economic growth depends on it.”

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